The bill aims to expand access to the property tax exemption program for seniors, individuals retired due to disability, and veterans with disabilities by amending existing definitions and income thresholds in RCW 84.36.383. Key changes include the introduction of new income thresholds for tax collection years 2024 through 2026, which will be set at 50%, 60%, and 70% of the county median household income for the respective thresholds. For taxes levied in 2027 and thereafter, the income thresholds will increase to 55%, 65%, and 75% of the county median household income, with adjustments occurring every three years starting August 1, 2023.

Additionally, the bill clarifies definitions related to the property tax exemption, such as "combined disposable income," "principal place of residence," and "residence," ensuring that the terms are inclusive of various living arrangements, including accessory dwelling units and mobile homes. The act specifies that it applies to taxes levied for collection in 2027 and beyond, and it explicitly states that certain existing laws (RCW 82.32.805 and 82.32.808) do not apply to this act.

Statutes affected:
Original Bill: 84.36.383